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Australian (ASX) Gold Industry Analysis

UpdatedApr 21, 2026
DataAggregated Company Financials
Companies154
  • 7D2.4%
  • 3M-8.1%
  • 1Y47.5%
  • YTDn/a

Over the last 7 days, the Gold industry has dropped 1.1%, driven by a pullback from Dateline Resources of 26%. In the past year, the industry has gained 46%. Looking forward, earnings are forecast to grow by 28% annually.

Industry Valuation and Performance

Has the Australian Gold Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Apr 2026AU$168.1bAU$32.2bAU$6.6b15.6x25.5x5.2x
Thu, 19 Mar 2026AU$155.4bAU$32.1bAU$6.6b19.4x23.7x4.8x
Sat, 14 Feb 2026AU$178.6bAU$27.7bAU$5.2b25.4x34.1x6.4x
Mon, 12 Jan 2026AU$165.2bAU$26.4bAU$4.6b26.4x36.1x6.3x
Wed, 10 Dec 2025AU$146.2bAU$26.4bAU$4.6b24.5x32x5.5x
Fri, 07 Nov 2025AU$139.5bAU$26.4bAU$4.6b23.7x30.4x5.3x
Sun, 05 Oct 2025AU$143.8bAU$26.4bAU$4.6b22.8x31.4x5.5x
Tue, 02 Sep 2025AU$119.8bAU$26.8bAU$4.8b17.9x24.7x4.5x
Thu, 31 Jul 2025AU$96.2bAU$22.4bAU$3.1b16.4x30.8x4.3x
Sat, 28 Jun 2025AU$101.3bAU$22.3bAU$3.1b18.5x32.6x4.5x
Mon, 26 May 2025AU$104.4bAU$22.3bAU$3.1b18.8x33.8x4.7x
Wed, 23 Apr 2025AU$102.2bAU$22.2bAU$3.0b19.7x33.6x4.6x
Fri, 21 Mar 2025AU$84.3bAU$22.2bAU$3.0b18.1x27.7x3.8x
Sun, 16 Feb 2025AU$79.9bAU$20.1bAU$2.4b21.5x33.7x4x
Tue, 14 Jan 2025AU$74.9bAU$18.7bAU$1.8b19.5x41x4x
Thu, 12 Dec 2024AU$76.6bAU$18.6bAU$1.8b22.6x42.2x4.1x
Sat, 09 Nov 2024AU$72.7bAU$18.4bAU$1.8b20.1x40.5x3.9x
Mon, 07 Oct 2024AU$68.1bAU$18.4bAU$1.8b21.1x38.1x3.7x
Wed, 04 Sep 2024AU$63.7bAU$18.2bAU$1.6b21.6x39.9x3.5x
Fri, 02 Aug 2024AU$60.3bAU$16.1bAU$1.1b22.2x55.3x3.7x
Sun, 30 Jun 2024AU$55.6bAU$16.0bAU$1.1b20.9x51.5x3.5x
Tue, 28 May 2024AU$60.0bAU$17.1bAU$1.2b21.8x50.6x3.5x
Thu, 25 Apr 2024AU$58.2bAU$17.2bAU$1.2b21.8x48.6x3.4x
Sat, 23 Mar 2024AU$52.8bAU$16.9bAU$1.2b18.1x43x3.1x
Mon, 19 Feb 2024AU$48.8bAU$15.6bAU$273.7m23.1x178.4x3.1x
Wed, 17 Jan 2024AU$73.7bAU$22.9bAU$1.3b23.2x54.7x3.2x
Fri, 15 Dec 2023AU$72.3bAU$22.9bAU$1.3b24.3x53.8x3.2x
Sun, 12 Nov 2023AU$70.4bAU$22.9bAU$1.4b22.1x52x3.1x
Tue, 10 Oct 2023AU$69.2bAU$23.0bAU$1.4b22x50.7x3x
Thu, 07 Sep 2023AU$68.6bAU$22.9bAU$1.5b18.8x46.4x3x
Sat, 05 Aug 2023AU$68.8bAU$22.5bAU$571.3m17x120.5x3.1x
Mon, 03 Jul 2023AU$68.6bAU$22.3bAU$558.7m17.9x122.7x3.1x
Wed, 31 May 2023AU$69.0bAU$22.5bAU$602.1m17.8x114.7x3.1x
Fri, 28 Apr 2023AU$76.2bAU$22.4bAU$584.8m18.6x130.3x3.4x
Price to Earnings Ratio

130.3x


Total Market Cap: AU$76.2bTotal Earnings: AU$584.8mTotal Revenue: AU$22.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Gold Industry Price to Earnings3Y Average 56.9x202420252026
Current Industry PE
  • Investors are pessimistic on the Australian Gold industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 25.2x which is lower than its 3-year average PE of 56.9x.
  • The 3-year average PS ratio of 4.1x is lower than the industry's current PS ratio of 5.2x.
Past Earnings Growth
  • The earnings for companies in the Gold industry have grown 124% per year over the last three years.
  • Revenues for these companies have grown 13% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Australian Gold compare with similar industries?

AU Market0.77%
Materials2.89%
Metals and Mining2.91%
Gold2.45%
Silver7.58%
Precious Metals and Minerals7.19%
Copper6.67%
Steel3.05%
Diversified Metals and Mining2.95%
Aluminum2.65%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
PDI Predictive DiscoveryAU$0.93-2.1%
AU$2.0b		146.7%PB21.1x
EVN Evolution MiningAU$13.603.1%
+AU$832.9m		53.3%PE20.8x
OBM Ora Banda MiningAU$1.5825.9%
+AU$626.3m		32.2%PE13.2x
RMS Ramelius ResourcesAU$4.005.3%
+AU$382.3m		36.1%PE25.9x
RRL Regis ResourcesAU$7.685.9%
+AU$325.6m		56.7%PE11.9x

Latest News

PDI
AU$0.93
Predictive Discovery
7D
-2.1%
1Y
146.7%
OBM
AU$1.58
Ora Banda Mining
7D
25.9%
1Y
32.2%
RMS
AU$4.00
Ramelius Resources
7D
5.3%
1Y
36.1%

RMS: Future Production Delivery And Index Inclusion Will Support Upside Potential

The updated analyst price target for Ramelius Resources has moved from about A$5.38 to A$5.61. This change reflects mixed recent research views, with some analysts citing stronger revenue growth, higher profit margin assumptions, and a lower future P/E, while others maintain a more cautious stance.
WGX
AU$6.43
Westgold Resources
7D
-0.6%
1Y
97.8%

WGX: Processing Expansion And Rising Output Will Drive Future Re Rating

Analysts have lowered their price target for Westgold Resources to A$9.71 from A$9.93. This change reflects updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples.
GMD
AU$6.68
Genesis Minerals
7D
4.2%
1Y
50.8%

Tower Hill Execution And Cost Pressures Will Shape Long Term Production Outcomes

Catalysts About Genesis Minerals Genesis Minerals is a gold mining company with operations centered on the Leonora and Laverton regions in Western Australia. What are the underlying business or industry changes driving this perspective?
NST
AU$23.66
Northern Star Resources
7D
-1.3%
1Y
2.8%

NST: Higher Commodity Price Deck Is Expected To Support Future Upside

Northern Star Resources' analyst price target has shifted from A$24.70 to A$35.00, with analysts linking the change to updated long term commodity price forecasts that have fed through to refreshed targets across Australian metals and mining names. Analyst Commentary Recent research shows bullish analysts lifting their price target on Northern Star Resources to A$35.00, with the change linked to updated long term commodity price assumptions across copper, aluminum, PLV met coal, Newcastle thermal coal and gold.
RRL
AU$7.68
Regis Resources
7D
5.9%
1Y
56.7%

RRL: Recent Upgrade And Index Inclusion Will Support Future Cash Flow

Analysts have lifted their fair value estimate for Regis Resources from A$8.52 to A$8.87, citing updated assumptions for the discount rate, revenue growth, profit margin and future P/E following recent research support, including the latest upgrade from the Street. Analyst Commentary Bullish Takeaways Bullish analysts link the higher fair value estimate to refreshed assumptions on revenue growth and profit margins, suggesting the current A$8.87 estimate better reflects the company’s earnings potential under their updated model.
ALK
AU$1.70
Alkane Resources
7D
-7.1%
1Y
105.5%
VAU
AU$4.74
Vault Minerals
7D
4.9%
1Y
47.3%
EVN
AU$13.60
Evolution Mining
7D
3.1%
1Y
53.3%

EVN: Higher Metal Price Assumptions Will Support Dividend And Earnings Resilience

Analysts have lifted the price target on Evolution Mining to A$14.50 from A$9.90, citing updated commodity price decks, higher long-term metal price assumptions and a shift in sector views that now place the stock at or near sector perform or hold ratings. Analyst Commentary Recent research shows a clear shift in how the street is framing Evolution Mining, with several bullish analysts revisiting their assumptions on metal prices and risk, then feeding those changes into updated valuation work.
STK
AU$0.20
Strickland Metals
7D
-8.9%
1Y
105.0%
DTR
AU$0.28
Dateline Resources
7D
-30.0%
1Y
3,900.0%
EMR
AU$6.49
Emerald Resources
7D
5.7%
1Y
46.2%
CYL
AU$6.56
Catalyst Metals
7D
-2.7%
1Y
-1.8%
SBM
AU$0.70
St Barbara
7D
-2.8%
1Y
127.4%
MEK
AU$0.15
Meeka Metals
7D
-6.3%
1Y
-6.3%